Estee Lauder 2012 Annual Report Download - page 10
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8
reducing non-value added costs, we have
generated more profitable growth and reinvested
to further improve our strengths.
During the year, we added to our strategic plan
a high-level, directional growth map designed
to help us prioritize the greatest long-term
opportunities for our Company and corresponding
b
enchmarks against which we will measure our
success. This plan acts as a compass, guiding us
toward what we believe will be sustainable,
profitable growth for the long term. Our successes
over the past year reinforce our belief that our
strategy is working and that we have a clear path
to future growth.
In fiscal 2012, prestige beauty grew faster than
mass in key markets around the world and our
Company was well equipped to take advantage of
that momentum. Thanks to our superior products
and exceptional services, we were poised to meet
the increased global demand for luxury. We
delivered breakthrough innovations — Estée
Lauder’s Idealist Even Skintone Illuminator and
Cooling Eye Illuminator, Clinique’s Moisture
Surge Intense Skin Fortifying Hydrator, M.A.C’s
Matchmaster SPF 15 Foundation, Aveda’s Invati
three-step system for thinning hair, and Origins’
Mega-Bright Skin tone correcting serum, to
name a few — which, along with our High-Touch
services, delighted our loyal consumers and
enticed newcomers to prestige beauty. To support
Lauder Companies’ BCA Campaign’s 20th
anniversary this year, we also celebrate Evelyn’s life
and enduring legacy. I was privileged to have known
her personally and I am dedicated to honoring her
spirit and remembering the many gifts she gave to
our Company, its family culture and the beauty
industry at large. Her strength, generosity and
compassion will continue to inspire us for many
years to come.
As my colleagues here at The Estée Lauder
Companies know, I am passionate about sailing and
am fond of drawing analogies between the business
world and the sport. Both require intense focus,
high-level strategy, teamwork and agility. I like to say
that when our Company began its strategic journey
three years ago, we looked for the winds of growth
and ways to improve our performance. With fast
winds at our back, we were able to swiftly leverage
our greatest opportunities across product
categories and geographies. We have continued to
successfully navigate these winds, while at the same
time building the necessary capabilities to support
our journey. The result is an organization more
nimble and flexible than ever, and by substantially
Our successes over
the past year reinforce
our belief that our
strategy is working and
that we have a clear
path to future growth.